Wellington Industrial Report | First Half 2019


Wellington’s industrial vacancy rate reached 1.5 per cent, representing just under 39,000sqm of space. This is the lowest result recorded since the annual survey was commenced a decade ago.

New industrial supply has been constrained by a shortage of available and suitable land for development. New builds are still predominantly owner occupiers.

Major infrastructure development such as Transmission Gully is a significant catalyst to the upswing in demand across the wider Wellington region.

Low vacancy and strong tenant demand will continue to put upward pressure on rents.  Yields will continue to firm through 2019 due to the lack of available stock for sale.

Sales activity is buoyant, but restricted by the number of options available. Provisional sales data for 2018 shows there were 155 industrial transactions, equating to nearly $182.7 million.

Colliers International investor confidence survey showed a net positive (optimists minus pessimists) 47 per cent of respondents expected investment decisions to improve in Wellington’s industrial sector as a result of low vacancy rates, rising rents and firming yields.


Wellington Industrial Report | First Half 2019

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Chris Dibble

Director | Research & Communications

Auckland CBD

Chris Dibble oversees the delivery of award-winning research reports, PR and Communications for Colliers International New Zealand. With over 13 years of experience and university qualifications in economics, geography, marketing and property, Chris has a  multi-disciplinary approach that assists a broad range of clients in their strategic decision making. Chris is a regular presenter and market commentator with an extensive network of media contacts to discuss the latest insights on current and future property trends. Chris also works with in-house and external writers to curate an audience-focused content delivery strategy for Colliers.

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Greg Goldfinch

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I am the National Director for industrial across all of New Zealand based in our South Auckland industrial office.

I specialise in the mid to upper end of the industrial sale and leasing markets. Since joining Colliers in 2004 I have established strong relationships within the industrial market and have worked exclusively for a number of national and multi-national clients.

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